Archive for November, 2011

Realising the True Value of Medical Research Results: Interview with Günter Umbach

November 21, 2011

How you can realise the true medical and commercial potential of medical research results, especially clinical studies: Interview with Management Centre Europe Faculty Member Dr. Günter Umbach, author of the book “Successfully Marketing Clinical Trial Results: Winning in the Healthcare Business”

Which chance for revenue is often missed by pharmaceutical companies?

Pharmaceutical companies spend huge amounts of money conducting clinical trials. However, the trial results often remain in the shadows. As a result, companies fail to get a decent return on their investment.

Why don’t companies exploit this golden opportunity?

There are two main ways that this opportunity slips through their fingers. Some companies fail to recognise clinical trials as part of the value chain. Other companies are simply untrained in realising the full impact of trials on revenue.

What is the typical interaction between medical and marketing professionals?

Many medical professionals feel they have accomplished their mission when the clinical trial is completed on time and on budget. They write their study report and that’s the end of it. The marketing professionals receive an extensive study report replete with hundreds of tables – without any further explanations. They do not have the time and expertise to analyse the marketing prospects of this bounty of scientific data.

Who should be responsible for marketing clinical trials?

In many companies, a direct and efficient cooperation between marketing professionals and medical advisors hold the keys to unlocking the wealth of their company’s under-utilised research data.

How cost-effective is the communication of clinical trials?

Companies can capitalise on the groundwork of the clinical trial programme. The effective communication of clinical trials results yields a very attractive return on investment.